Piper Sandler Reiterates “Neutral” Rating for Mid-America Apartment Communities (NYSE:MAA)

Piper Sandler reaffirmed their neutral rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report report published on Tuesday, Benzinga reports. Piper Sandler currently has a $140.00 price objective on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the company. Truist Financial upgraded Mid-America Apartment Communities from a hold rating to a buy rating and upped their price objective for the company from $154.00 to $158.00 in a research note on Tuesday, January 16th. Jefferies Financial Group reiterated a hold rating and issued a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. The Goldman Sachs Group restated a buy rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Mizuho cut their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an equal weight rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of Hold and a consensus price target of $143.76.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $131.58 on Tuesday. Mid-America Apartment Communities has a one year low of $115.56 and a one year high of $158.46. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 4.18 and a beta of 0.80. The business has a 50-day simple moving average of $129.13 and a 200 day simple moving average of $129.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same quarter last year, the firm posted $2.32 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Mid-America Apartment Communities will post 8.95 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

Insider Activity

In related news, EVP Melanie Carpenter sold 371 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the transaction, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Melanie Carpenter sold 371 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the transaction, the executive vice president now owns 19,067 shares in the company, valued at approximately $2,504,069.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total transaction of $524,485.88. Following the completion of the sale, the chief executive officer now owns 304,523 shares of the company’s stock, valued at approximately $39,651,939.83. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TCM Advisors LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at about $27,335,000. First United Bank & Trust acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth about $27,000. ST Germain D J Co. Inc. purchased a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth about $36,000. Cullen Frost Bankers Inc. purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth about $35,000. Finally, Quarry LP lifted its holdings in shares of Mid-America Apartment Communities by 186.5% during the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 179 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.